Traders take blame for high oil prices, but global demand is the real culprit
Politicians are blaming high oil prices on an old scapegoat: speculators, writes Dean Barnett in the Weekly Standard
. But if speculators were hoarding oil, it would be stockpiled, and inventories would soar. Instead, inventories remain constant. This is obvious "to anyone who took an introductory economics class," Barnett...